$9.1M to be Returned to Alabama Residents

MONTGOMERY, Ala. — Alabama farmers and rural property owners who borrow money from Alabama Ag Credit aren’t just borrowers — they own the lending cooperative. That means that when the co-op does well, they share in its success. And for Alabama Ag Credit, 2018 was a very successful year.

In March, based on its successful financial results last year, Alabama Ag Credit will be distributing $9.1 million in cash patronage to more than 7,500 members in central and south Alabama. This amount was approved by the cooperative’s board of directors.

“Being able to consistently pay a strong cash patronage to our borrowers reflects the strength of our association. The board of directors is committed to maintaining a financially strong cooperative for the benefit of all our members,” said Carl Sanders, board chairman.

Not only do these cash-back payments benefit the association’s members, but also the local communities and economies where that money is circulated. They also lower the overall cost of borrowing from the cooperative. Since 2006, Alabama Ag Credit has returned more than $76 million in distributions to its borrowers.

Alabama Ag Credit is a member of the nationwide Farm Credit System and provides financing for farms, timber and forestry operations, agribusinesses, country homes, recreational land and other rural property in 40 counties in central and southern Alabama. The financing cooperative has offices in Demopolis, Dothan, Enterprise, Monroeville, Montgomery, Opelika, Selma, Spanish Fort and Tuscaloosa. For more information, visit www.AlabamaAgCredit.com.

$9.1M to be Returned to Alabama Residents

MONTGOMERY, Ala. — Alabama farmers and rural property owners who borrow money from Alabama Ag Credit aren’t just borrowers — they own the lending cooperative. That means that when the co-op does well, they share in its success. And for Alabama Ag Credit, 2018 was a very successful year.

In March, based on its successful financial results last year, Alabama Ag Credit will be distributing $9.1 million in cash patronage to more than 7,500 members in central and south Alabama. This amount was approved by the cooperative’s board of directors.

“Being able to consistently pay a strong cash patronage to our borrowers reflects the strength of our association. The board of directors is committed to maintaining a financially strong cooperative for the benefit of all our members,” said Carl Sanders, board chairman.

Not only do these cash-back payments benefit the association’s members, but also the local communities and economies where that money is circulated. They also lower the overall cost of borrowing from the cooperative. Since 2006, Alabama Ag Credit has returned more than $76 million in distributions to its borrowers.

Alabama Ag Credit is a member of the nationwide Farm Credit System and provides financing for farms, timber and forestry operations, agribusinesses, country homes, recreational land and other rural property in 40 counties in central and southern Alabama. The financing cooperative has offices in Demopolis, Dothan, Enterprise, Monroeville, Montgomery, Opelika, Selma, Spanish Fort and Tuscaloosa. For more information, visit www.AlabamaAgCredit.com.